This week’s area profile is our first look at an area of West Belfast, courtesy of Merrel in our new office on the Woodvale Road.
Where better to start than in our immediate surroundings? Belfast’s well-known Shankill Road leads in to the Woodvale Road.
It’s a prime area to buy into if you can, as property prices are quite good and tenants tend to be long-term.
You’ll see a lot of families – people tend to put down roots and stay close to them here.
A landlord in this area needs to be open to offering rental properties to people in receipt of benefits – many jobseekers and working people alike will be in receipt of some level of housing benefit.
It’s helpful to know how things work – check out our landlord’s guide to housing benefit here for a refresher.
Word on the streets
Leopold Place, Leopold Gardens, Palmer Street
As with most parts of Belfast, if you can get a former Housing Executive property here, snap it up immediately. They are built to last, with families in mind. With their huge kitchens and roomy bedrooms, you will never lose a tenant.
The Dhu Varrens
Dhu Varren Parade, Crescent and Park are all typical of the smaller 3-bed semis you see on the other side of the Woodvale Road.
They are typically home to older residents, and offer fantastic rental potential for a buy-to-let investor. Properties tend to be fairly compact, but you’ll get a good purchase price, a decent rental income and if it’s in decent condition, there’s likely to be very little maintenance.
This immaculate little 3-bed house is a classic Dhu Varren property. It should rent for at least £400 and this property is on the market for £54,950, which would give landlords a yield of 8.7%.
Roomy With A View
This spacious end-terrace overlooks Woodvale Park, is right beside all the local amenities and is in great condition. This could either be a big family rental, or converted to an HMO. It’s on the market for £119,500 and we’ve seen similar properties rent for up to £850, which is a healthy 8.5% yield.
Just drop us a line to email@example.com if you’d like to chat in more detail about investment opportunities in the area, or call the Woodvale office on 028 9031 9231.